It Was A ‘Red Red Whine’ Sort of Market On Wednesday – $AMZN $LULU $TSLA Movie Higher

Happy Hump Day!

Today was a relatively down day for the markets, especially for growth stocks, as 7 of the 11 sectors closed in the red making some us whine or at least look forward to cracking open a nice bottle red wine after today’s sobering session. Risk trades were surely off as investors tried to chew through a number of negative headlines i.e. lack of infrastructure bill support, Janet Yellen’s fearful comments regarding the unresolved debt-ceiling issues, a number fo companies sending reserved outlook messages, & the Fed’s Beige Book confirmed that economic growth moved lower to a moderate pace in early July through August pointing to the spread of the Delta variant.

However, if you were heavily invested in the utilities sector, then you had a big smile on your face as the sector led all with an attractive 1.8% jump.  At the end of the day the major indices all closed in the red as the S&P 500 closed at 4,514.07 (-.13%), the Dow 30 closed 35,031.07 (-.20%), and the Nasdaq closed at 15,286.64 (-.57%). The pressure was lager as you moved down the food curve as we saw the small caps on the Russell 2000 close lower at 2,249.73 (-1.14%) & the MicroCaps also moved lower today as bids were noticeably missing broadly as the iShares Micro-Cap ETF (IWC) closed at $147.04, (-1.25%).

The macroeconomic schedule was fairly busy as it delivered the consumer credit report which confirmed a rise by $17B in July, but missed expectations. The job openings report also showed a rise to an all-time record-high of 10.934M in July. The weekly MBA Mortgage Applications Index fell by 1.9%. Tomorrow’s schedule will be limited to the weekly Initial and Continuing Claims report. 

The yield curve tightened today, as the 10-yr treasury yield closed down 4 basis points at 1.33%, while the 2-yr yield bump up 1 basis point to .22%. The U.S. Dollar Index moved up up by .2% to close at 92.71.

The precious metals markets moved lower again today as gold prices closed lower at $1,792, -$5 and silver closed at $23.99, -$.38.

BIOTECH MOVES LOWER

 The SPDR S&P Biotech ETF (XBI) closed at $133.47, -.54%. The iShares Nasdaq Biotechnology ETF (IBB) closed at $175.44, -.21% & the NYSE ARCA Biotech Index (^BTK) closed at 5,919.99, -.1.31%.

TECH MOVES 

 A few tech giants closed as follows: Alphabet (GOOG) which closed at 2,897.67, -.44%, Facebook (FB) closed at $377.57, -1.21%, Amazon (AMZN) closed at $3,525.50, +.46%, Microsoft (MSFT) closed at $300.21, +.01%, Apple (AAPL, $155.11, -1.01%),  Netflix (NFLX, $606.05, -.11%) & Tesla (TSLA, $753.87, +.13%).

LULU JUMPS IN AFTERMARKETS

Lululemon jumped 13% to new highs after beating the streets Q2 fiscal 2021 expectations. Calvin McDonald, Chief Executive Officer, stated: “Our second quarter results demonstrate the continued momentum across the business, and how we are living into our Power of Three growth plan and Impact Agenda commitments. We launched exciting new products, experienced strength across channels and geographies, and announced new partnerships that will allow us to become a leader in product sustainability.” McDonald continued: “I’m inspired every day by our teams around the world for their continued enthusiasm, agility, and commitment to the brand.” Revenue increased 61% to $1.5 billion, Diluted EPS came in at $1.59 & Adjusted EPS was $1.65.

PYPL BUYING PAIDY

PayPal Holdings, Inc. (NASDAQ: PYPL, $285.53, -2.74%) announced on Tuesday that it has agreed to acquire Paidy, a leading two-sided payments platform and provider of buy now, pay later solutions in Japan, for ¥300 billion or approximately US$2.7 billion, principally in cash. The acquisition will expand PayPal’s capabilities, distribution and relevance in the domestic payments market in Japan, the third largest ecommerce market in the world, complementing the company’s existing cross-border ecommerce business in the country.

MEMES WATCH

AMC Entertainment (AMC) closed at $47.40, -.9% after announcing a +$25M multi-media campaign had begun today online and in social media, with national television advertising across the United States beginning Sunday, September 12. Most of the monies devoted to this effort will be spent on network television advertising. The campaign also will be used in nine countries in Europe by AMC’s Odeon Cinema Group. Multiple 60-second, 30-second and 15-second commercials highlight the emotion and experience that can only be found on the big screen in the communal setting of a movie theatre. The spots star Oscar winner and 4-time Academy Award nominee Nicole Kidman, were directed by 2-time Academy Award nominee Jeff Cronenweth and Tim Cronenweth, and were written by Academy Award nominee Billy Ray.

 GameStop (GME) closed at $198.80, -.10%. GME released their financial results for the second quarter ended July 31, 2021 after the close today. They generated their net sales of $1.183 billion, compared to $942 million in the prior year’s second quarter & ended the period with cash and restricted cash of $1.78 billion, ended the period with no long-term debt, other than a $47.5 million low-interest loan associated with the French government’s pandemic response & invested in long-term growth initiatives that include expanding the Company’s product catalog, enhancing its fulfillment network capabilities and technology, and adding talent across the organization.

Virgin Galactic Holdings (SPCE) closed at $25.45, +3.42%. 

Shares of infamous ‘meme brokerage’ firm Robinhood Markets, Inc., (HOOD) closed at $40.05, -4.94%. HOOD is aiming to introduce an early deposit feature to compete with the liked of the PayPal (PYPL, $285.53, -.43%).

Shares of Seanergy Maritime Holdings Corp. (SHIP) closed at $1.18, -1.67%.  SHIP, the only pure-play Capesize ship-owner publicly listed in the US, announced today that it took delivery of the previously-announced Capesize vessel acquisition, the M/V Worldship (the “Vessel”). The Vessel is a 181,415 dwt Capesize bulk carrier, built in 2012 by Imabari of Japan. The M/V Worldship is the sixth Capesize delivery that Seanergy has successfully completed in 2021 to-date. M/V Worldship has already entered a time charter (“T/C”) with an existing charterer of the Company, at a gross fixed rate of $31,750 per day for a period of about 12 to about 16 months from the delivery. SHIP recently announced that its Board of Directors has authorized a share repurchase plan. Under the Plan, the Company may repurchase up to $17 million of its outstanding common shares, representing approximately 10% of the Company’s market capitalization as of August 10, 2021. 

Economic Reports

• On Monday, the macroeconomic schedule did not deliver any significant reports.
• On Tuesday,  the Fed’s Beige Book confirmed that economic growth moved lower to a moderate pace in early July through August pointing to the spread of the Delta variant. The consumer credit report confirmed a rise by $17B in July. The job openings report showed a rise to an all-time record-high of 10.934M in July. The weekly MBA Mortgage Applications Index fell by 1.9%.

Investing & Inspiration

1. “Man is only great when he acts from passion.” – Benjamin Disraeli
2. “We need to stop thinking about infrastructure as an economic stimulant and start thinking about it as a strategy. Economic stimulants produce Bridges to Nowhere. Strategic investment in infrastructure produces a foundation for long-term growth.” – Roger McNamee
3. “We must let go of the life we have planned, so as to accept the one that is waiting for us.” – Joseph Campbell
4. “Put your heart, mind, and soul into even your smallest acts. This is the secret of success.” – Swami Sivananda
5. “I can’t change the direction of the wind, but I can adjust my sails to always reach my destination.” – Jimmy Dean
6. “Companies have too many experts who block innovation. True innovation really comes from perpendicular thinking.” – Peter Diamandis
7. “By failing to prepare, you are preparing to fail.” – Benjamin Franklin
8. “We cannot solve our problems with the same thinking we used when we created them.” – Albert Einstein
9. “When you’re an investor, you can look at the quantitative and qualitative elements of an investment, but there’s a third aspect: What you feel in your gut.” – Kevin O’Leary
10. “Set your course by the stars, not by the lights of every passing ship.” – Omar N. Bradley
11. “Do not take life too seriously. You will never get out of it alive.” – Elbert Hubbard
12. “Education is not only a ladder of opportunity, but it is also an investment in our future.” – Ed Markey 
13. “Every good painter paints what he is.” – Jackson Pollock
14. “If you believe in yourself and have dedication and pride – and never quit, you’ll be a winner. The price of victory is high but so are the rewards.” – Bear Bryant
15. “Your mindset matters. It affects everything – from the business and investment decisions you make, to the way you raise your children, to your stress levels and overall well-being.” – Peter Diamandis
16. “You cannot have a positive life and a negative mind.” – Joyce Meyer 
17. “Like wildebeest and zebra migration across the Serengeti, investment managers and consultants, too, have a habit of running together and, every now and then, changing direction.” – Sanjaya Baru
18. “If people are anything but enthusiastic about the information or ideas that they’re sharing, they’re either not that invested in what they’re doing – or they’re not communicating that investment effectively.” – Ana Kasparian 
19. “Life consists not in holding good cards but in playing those you hold well.” – Josh Billings 
20. “Friend, there’s no greater investment in life than in being a people builder. Relationships are more important than our accomplishments.” – Joel Osteen
21. “It’s only natural that the heavy users help contribute to the investment to keep the Web healthy. That is the most important concept of net neutrality.” – Lowell McAdam
22. “The more sand that has escaped from the hourglass of our life, the clearer we should see through it.” – Jean Paul 

23. “Eliminate emotion from your investment program.” -John C. Bogle

24. “Modern medical advances have helped millions of people live longer, healthier lives. We owe these improvements to decades of investment in medical research.” – Ike Skelton
25. “In every investment, before I get involved or invest, I always see what the mindset of the founder, the CEO, is.” – Zaza Pachulia
26. “An investment said to have an 80% chance of success sounds far more attractive than one with a 20% chance of failure. The mind can’t easily recognize that they are the same.” – Daniel Kahneman
27. “The return on investment in global health is tremendous, and the biggest bang for the buck comes from vaccines. Vaccines are among the most successful and cost-effective health investments in history.” – Seth Berkley
28. “Few things in the world are more powerful than a positive push. A smile. A world of optimism and hope. A ‘you can do it’ when things are tough.” – Richard M. DeVos
29. “To be yourself in a world that is constantly trying to make you something else is the greatest accomplishment.” – Ralph Waldo Emerson
30. “We all have dreams. But in order to make dreams come into reality, it takes an awful lot of determination, dedication, self-discipline, and effort.”  – Jesse Owens
31. “The pessimist complains about the wind; the optimist expects it to change; the realist adjusts the sails.” – William Arthur Ward- American Writer, Born 1921
32. “Once you replace negative thoughts with positive ones, you’ll start having positive results.” – Willie Nelson
33. “The secret of your future is hidden in your daily routine.” – Mike Murdock
34.  “If somebody puts you down or criticizes you, just keep on believing in yourself and turn it into something positive.” – Leah LaBelle
35. “Opportunity is missed by most people because it is dressed in overalls and looks like work”. -Thomas A. Edison
36. “Education is not only a ladder of opportunity, but it is also an investment in our future.” – Ed Markey

37. “Human behavior flows from three main sources: desire, emotion, and knowledge.” – Plato

38. “We are what our thoughts have made us; so take care about what you think. Words are secondary. Thoughts live; they travel far.” – Swami Vivekananda
39. “Success is not final, failure is not fatal: it is the courage to continue that counts.” – Winston Churchill

40. “If you don’t know where you are going, any road will get you there.” – Lewis Carroll

41. “Don’t worry about being a star, worry about doing good work, and all that will come to you.” – Ice Cube

42. “It is not in the stars to hold our destiny but in ourselves.” – William Shakespeare

43. “Prediction is very difficult, especially if it’s about the future.” – Niels Bohr (Danish Physicist)

44. “It is indeed true that the stock market can forecast the business cycle.” -Paul Samuelson

45. “The wisest rule in investment is: when others are selling, buy. When others are buying, sell. Usually, of course, we do the opposite. When everyone else is buying, we assume they know something we don’t, so we buy. Then people start selling, panic sets in, and we sell too.” – Jonathan Sacks

46. “What lies behind you and what lies in front of you, pales in comparison to what lies inside of you.” – Ralph Waldo Emerson
47. “Each new generation born is in effect an invasion of civilization by little barbarians, who must be civilized before it is too late.” – Thomas Sowell
48. “Life is 10% what happens to you and 90% how you react to it.” – Charles R. Swindoll
49. “The truth is you don’t know what is going to happen tomorrow. Life is a crazy ride, and nothing is guaranteed.” – Eminem

50. “View health as an investment, not an expense.” – John Quelch

51. “Opportunity does not knock, it presents itself when you beat down the door.” – Kyle Chandler

52. “If you don’t know where you are going, any road will get you there.” – Lewis Carroll
53. “Once you replace negative thoughts with positive ones, you’ll start having positive results.” – Willie Nelson
54. “That which does not kill us makes us stronger.” – Friedrich Nietzsche
55. “Nothing in life is to be feared, it is only to be understood. Now is the time to understand more, so that we may fear less.” – Marie Curie
56. “A problem is a chance for you to do your best.”–  Duke Ellington
57. “The best way to predict the future is to create it.” -Peter Drucker
58. “I’m involved in the stock market, which is fun and, sometimes, very painful.” – Regis Philbin
59. “Who owns the future? This is the question at the heart of every stock market.” – John Landgraf
60. “One of the funny things about the stock market is that every time one person buys, another sells, and both think they are astute.” – William Feather
61. “While I’m sure some millennials are concerned with the ethical issues involved in mining for diamonds, the main reason they steer clear of the gems is because, well, they’re a dumb investment.” – Ana Kasparian
62. “The wisest rule in investment is: when others are selling, buy. When others are buying, sell. Usually, of course, we do the opposite. When everyone else is buying, we assume they know something we don’t, so we buy. Then people start selling, panic sets in, and we sell too.” – Jonathan Sack
63. “We must shift our thinking away from short-term gain toward long-term investment and sustainability, and always have the next generations in mind with every decision we make.” –  Deb Haaland
64. “The only way to have a friend is to be one.” –  Ralph Waldo Emerson
65. “If you believe in yourself and have dedication and pride – and never quit, you’ll be a winner. The price of victory is high but so are the rewards.” – Bear Bryant

66. “Investing in women’s lives is an investment in sustainable development, in human rights, in future generations – and consequently in our own long-term national interests.” -Liya Kebede

67. “Success is not final, failure is not fatal: it is the courage to continue that counts.”– Winston Churchill

68. “Our greatest glory is not in never falling, but in rising every time we fall.” – Confucius

69. “Give me a lever long enough and a fulcrum on which to place it, and I shall move the world.” – Archimedes
70. “Who controls the past controls the future. Who controls the present controls the past.” – George Orwell
71. “If you get up in the morning and think the future is going to be better, it is a bright day. Otherwise, it’s not.” – Elon Musk
72. “The pessimist complains about the wind; the optimist expects it to change; the realist adjusts the sails.” – William Arthur Ward
73. “Start where you are. Use what you have. Do what you can.” – Arthur Ashe
74. “Netflix, Amazon, iTunes – whatever platforms emerge – we are looking at as having the same potential that home video had for the movie business. Which means there are entirely new opportunities to monetize our capital investment in content and do so in ways that work for distributors, for consumers and for creators.” – Bob Iger

75. “When you have no one to answer to, vendetta as investment strategy is as legitimate as anything.” – Carl Icahn

76. “No other investment yields as great a return as the investment in education. An educated workforce is the foundation of every community and the future of every economy.” – Brad Henry
77. “In my view, the biggest investment risk is not the volatility of prices, but whether you will suffer a permanent loss of capital. Not only is the mere drop in stock prices not risk, but it is an opportunity. Where else do you look for cheap stocks?” – Li Lu

78. “Modern medical advances have helped millions of people live longer, healthier lives.

79. We owe these improvements to decades of investment in medical research.”– Ike Skelton

80. “Stock market goes up or down, and you can’t adjust your portfolio based on the whims of the market, so you have to have a strategy in a position and stay true to that strategy and not pay attention to noise that could surround any particular investment.” – John Paulson

81. “Your mindset matters. It affects everything – from the business and investment decisions you make, to the way you raise your children, to your stress levels and overall well-being.” – Peter Diamandis
82. “Inflation destroys savings, impedes planning, and discourages investment. That means less productivity and a lower standard of living.” – Kevin Brady
83. “Bitcoin, in the short or even long term, may turn out be a good investment in the same way that anything that is rare can be considered valuable. Like baseball cards. Or a Picasso.” – Andrew Ross Sorkin
84. “I think you have to learn that there’s a company behind every stock and there’s only one real reason why stocks go up. Companies go from doing poorly to doing well or small companies grow to large companies.” – Peter Lynch
85. “Historically, there has been a bull market in the commodities every 20 or 30 years.” – Jim Rogers
86. “The markets generally are unpredictable, so that one has to have different scenarios. The idea that you can actually predict what’s going to happen contradicts my way of looking at the market.” – George Soros
87. “Stop trying to predict the direction of the stock market, the economy or the elections.” – Warren Buffett
88. “An important key to investing is to remember that stocks are not lottery tickets.” – Peter Lynch
89. “Learn everyday, but especially from the experiences of others. It’s cheaper!” – John Bogle
90. “When purchasing depressed stock in troubled companies, seek out the ones with the superior financial positions and avoid the ones with loads of bank debt.” – Peter Lynch
91. “No stock price is too low for bears or too high for bulls.” – John F. Heerdink, Jr.

92. “Investment is most successful when it is most businesslike.” – Ben Graham

93. “Value stocks are about as exciting as watching grass grow, but have you ever noticed just how much your grass grows in a week?” – Christopher Browne

94. “Even the intelligent investor is likely to need considerable willpower to keep from following the crowd.” – Benjamin Graham
95. “Individual who cannot master their emotions are ill-suited to profit from the investment process.” – Benjamin Graham
96. “I made my first investment at age eleven. I was wasting my life until then.” – Warren Buffet
97. “I don’t look to jump over seven-foot bars; I look around for one-foot bars that I can step over.” — Warren Buffett
98. “There are only three measurements that tell you nearly everything you need to know about your organization’s overall performance: employee engagement, customer satisfaction, and cash flow. It goes without saying that no company, small or large, can win over the long run without energized employees who believe in the mission and understand how to achieve it.” – Jack Welch, former CEO of GE
99. “Opportunities come infrequently. When it rains gold, put out the bucket, not the thimble” ― Warren Buffett
100. “If you buy things you do not need, soon you will have to sell things you need.” – Warren Buffet
101. “How many millionaires do you know who have become wealthy by investing in savings accounts? I rest my case.” — Robert G. Allen
102. “It’s far better to buy a wonderful company at a fair price, than a fair company at a wonderful price.” – Warren Buffett
103. “A market downturn doesn’t bother us. It is an opportunity to increase our ownership of great companies with great management at good prices.” — Warren Buffett
104. “Every once in a while, the market does something so stupid it takes your breath away.” — Jim Cramer
105. “The person who starts simply with the idea of getting rich won’t succeed; you must have a larger ambition.” — John D. Rockefeller
106. “Know what you own, and know why you own it.” – Peter Lynch
107. “Although it’s easy to forget sometimes, a share is not a lottery ticket… it’s part ownership of a business.” – Peter Lynch
108. “Wise spending is part of wise investing. And it’s never too late to start.” – Rhonda Katz

109. “Invest for the long haul. Don’t get too greedy and don’t get too scared.” – Shelby M.C. Davis

110. “Fear incites human action far more urgently than does the impressive weight of historical evidence.”
     -Jeremy Siegel
111. “With a good perspective on history, we can have a better understanding of the past and present, and thus a clear vision of the future.” — Carlos Slim Helu
112. “If we like a business, we’re going to buy as much of it as we can and keep it as long as we can. And when we change our mind, we don’t take half measures.” – Warren Buffett

113. “The most contrarian thing of all is not to oppose the crowd but to think for yourself.” — Peter Thiel

114. “Never depend on a single income, make an investment to create a second source.” Warren Buffet

115. “Games are won by players who focus on the playing field –- not by those whose eyes are glued to the scoreboard.”
     ― Warren Buffett
116. “The key to making money in stocks is not to get scared out of them.” – Peter Lynch
117. “Courage taught me no matter how bad a crisis gets … any sound investment will eventually pay off.” — Carlos Slim Helu
118. “Investing puts money to work. The only reason to save money is to invest it.” – Grant Cardone
119. “As time goes on, I get more and more convinced that the right method of investment is to put fairly large sums into enterprises which one thinks one knows something about and in the management of which one thoroughly believes.” — John Maynard Keynes
120. “Given a 10% chance of a 100 times payoff, you should take that bet every time.” — Jeff Bezos
121. “Money is always eager and ready to work for anyone who is ready to employ it.” ― Idowu Koyenikan
122. “The secret to investing is to figure out the value of something – and then pay a lot less.” – Joel Greenblatt
123. “We don’t have an analytical advantage, we just look in the right place.” – Seth Klarman
124. “Men, it has been well said, think in herds. It will be seen that they go mad in herds, while they only recover their senses slowly, and one by one.” – Charles Mackay
125. “It’s not whether you’re right or wrong that’s important, but how much money you make when you’re right and how much you lose when you’re wrong.” – George Soros
126. “No Price is too low for a bear or too high for a bull.” — Anonymous
127. “Investment is an asset or item that is purchased with the hope that it will generate income or appreciate in the future.” Anonymous
128. “Behind every stock is a company. Find out what it’s doing.” — Peter Lynch
129. “Wise spending is part of wise investing. And it’s never too late to start.” –Rhonda Katz
130. “It amazes me how people are often more willing to act based on little or no data than to use data that is a challenge to assemble.” ― Robert Shiller
131. “A bull market is like sex. It feels best just before it ends.” — Barton Biggs
132. “The investor’s chief problem — even his worst enemy — is likely to be himself.” — Benjamin Graham
133. “No profession requires more hard work, intelligence, patience, and mental discipline than successful speculation.” – Robert Rhea
134. “Money is like a sixth sense – and you can’t make use of the other five without it.” – William Somerset Maugham
135. “Compound interest is the eighth wonder of the world. He who understands it, earns it. He who doesn’t, pays it.” — Albert Einstein
136. “Never count on making a good sale. Have the purchase price be so attractive that even a mediocre sale gives good results” — Warren Buffett
137. “The stock market is a device for transferring money from the impatient to the patient.” – Warren Buffett
138. “Thousands of experts study overbought indicators, head-and-shoulder patterns, put-call ratios, the Fed’s policy on money supply…and they can’t predict markets with any useful consistency, any more than the gizzard squeezers could tell the Roman emperors when the Huns would attack.” – Peter Lynch
139. “Investing puts money to work. The only reason to save money is to invest it.” – Grant Cardone
140. “You cannot save time for your future use however you can invest time for your future.” – John F. Heerdink, Jr. 
141. “Know what you own, and know why you own it.” – Peter Lynch
142. “Liquidity is only there when you don’t need it.” -Old Proverb
143. “If you want to be a millionaire, start with a billion dollars and launch a new airline.” – Richard Branson
144. “Fear incites human action far more urgently than does the impressive weight of historical evidence.” – Jeremy Siegel
145. “In investing, what is comfortable is rarely profitable.” – Robert Arnott
146. “Spend each day trying to be a little wiser than you were when you woke up.” – Charlie Munger
147. “The entrance strategy is actually more important than the exit strategy.” – Edward Lampert
148. “The rivers don’t drink their own water; Trees don’t eat their own fruits. The sun does not shine for itself, And flowers do not spread their fragrance For themselves. Living for others is a rule of nature” – Pope Francis
149. “It is impossible to produce superior performance unless you do something different from the majority.” – John Templeton
150. “An investment in knowledge pays the best interest.” – Benjamin Franklin.
151. “I believe the returns on investment in the poor are just as exciting as successes achieved in the business arena, and they are even more meaningful!” -Bill Gates
152. “Every portfolio benefits from bonds; they provide a cushion when the stock market hits a rough patch. But avoiding stocks completely could mean your investment won’t grow any faster than the rate of inflation.” – Suze Orman
153. “The tax on capital gains directly affects investment decisions, the mobility, and flow of risk capital… the ease or difficulty experienced by new ventures in obtaining capital, and thereby the strength and potential for growth in the economy.” – John F. Kennedy
154. “If all the economists were laid end to end, they’d never reach a conclusion. -George Bernard Shaw
155. “There are old traders and there are bold traders, but there are very few old, bold traders.”-Ed Seykota
156. “Let this scenario play out on its own, in its own fashion. As you watch it unfold, you will soon be grateful that you choose the peaceful path. Remember — those who live by the sword, die by the sword.”
157. “As long as you enjoy investing, you’ll be willing to do the homework and stay in the game.” -Jim Cramer
158. “I rarely think the market is right. I believe non-dividend stocks aren’t much more than baseball cards. They are worth what you can convince someone to pay for it.” -Mark Cuban
159. “Michael Marcus taught me one other thing that is absolutely critical: You have to be willing to make mistakes regularly; there is nothing wrong with it. Michael taught me about making your best judgment, being wrong, making your next best judgment, being wrong, making your third best judgment, and then doubling your money.” -Bruce Kovner
160. “The policy of being too cautious is the greatest risk of all.” -Jawaharlal Nehru
161. “The only true test of whether a stock is “cheap” or “high” is not its current price in relation to some former price, no matter how accustomed we may have become to that former price, but whether the company’s fundamentals are significantly more or less favorable than the current financial-community appraisal of that stock.” -Philip Fisher
162. “I learned to avoid trying to catch up or double up to recoup losses. I also learned that a certain amount of loss will affect your judgment, so you have to put some time between that loss and the next trade.” -Richard Dennis
163. “The four most dangerous words in investing are: ‘this time it’s different.” -Sir John Templeton
164. “Money doesn’t make you happy. I now have $50 million but I was just as happy when I had $48 million.” -Arnold Schwarzenegger